Which of the following is an example of a public good?
A) an apple
B) a street light
C) ketchup
D) a car
B) a street light
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If fixed costs were raised to $50 in Cost Calculations for Pizza Shack Company, which other columns would change?
a. 4, 5, 7, 8
b. 1, 4, 5, 7
c. 3, 4, 5, 7
d. 4, 5, 6, 7
Refer to the information provided in Figure 32.2 below to answer the question(s) that follow.
Figure 32.2Refer to Figure 32.2. According to the new classical economists, under rational expectations an expected increase in government spending would
A. shift AD1 to the left. B. shift AD1 to the right. C. shift AS1 to the right. D. none of the above.
When someone does not have to pay for a good it:
A. is rational to overconsume. B. is irrational to overconsume. C. is rational to underconsume. D. means there is zero demand for the good.
According to the extreme monetarist position, using the equation of exchange, an increase in the quantity of money in circulation will
A. Increase real GDP. B. Have no effect on the price level. C. Increase the price level. D. Decrease the velocity of money.